CHARLESTON, S.C.—For maybe the last time, Alex Murdaugh, in a prison jumpsuit instead of the suit he used to wear, shuffled into a courtroom Monday in South Carolina and was sentenced to 40 years in federal prison. Mr. Murdaugh was punished—this time in federal court—for stealing from clients and his law firm. The 55-year-old disbarred […]
The Biden administration has been accused by the House Judiciary Committee and its Select Subcommittee on the Weaponization of the Federal Government of conducting unlawful “broad” surveillance of citizens’ private financial data without a warrant and with no evidence of any crimes being committed by the individuals. In a new interim report released on March […]
NEW YORK—The holidays are supposed to be a joyful time, but they can also be financially stressful. With gifts, social gatherings, and plane tickets home, the costs can start piling up. Household expenses continue to rise and many Americans are expressing concern about their financial futures, according to a poll from The Associated Press-NORC Center […]
Hungary has blocked a roughly €50 billion ($55 billion) European Union financial aid package for Ukraine shortly after EU leaders in Brussels officially began ascension negotiations with the war-torn country and its neighbor Moldova; a process that has long been sought by both nations. Taking to the social media platform X, formally known as Twitter, […]
Sen. J.D. Vance (R-Ohio) told the CEOs of top financial institutions that he believes the financial-sector giants have become too involved in major social and political debates in recent years. Sen. Vance was speaking at a Senate Committee on Banking, Housing and Urban Affairs “Annual Oversight of Wall Street Firms” meeting on Wednesday. The Senator […]
For years, South Carolina attorney Alex Murdaugh looked his anguished clients in the eyes and promised to help them with their medical bills, their suffering or simply to survive. Then he stole some, if not all, of what he won for many of them. Those clients got to look Murdaugh in the eye Tuesday and […]
Some in the financial services industry are nervous about how the Supreme Court will rule in a payday lending industry challenge to the constitutionality of the Consumer Financial Protection Bureau (CFPB) that is being heard this week. A ruling against the powerful regulator in CFPB v. Community Financial Services Association of America (CSFA) (court file […]
The Treasury Department has unveiled a new set of guidelines for financial institutions with net-zero carbon emissions goals as the Biden administration continues to promote its green energy agenda. The new voluntary guidelines were announced by Treasury Secretary Janet Yellen during a speech at the Bloomberg Transition Finance Action Forum in New York on Sept. […]
Financial stress is a common and enduring problem for many Americans, and it’s been exacerbated by global financial constraints such as the pandemic, recession, and high prices. A recent survey by Bankrate found that over half of U.S. adults report that money has a negative impact on their mental health, causing stress and anxiety. NTD […]
Sen. John Kennedy (R-La.) and Federal Reserve Vice Chair Michael Barr discussed why the Fed did not properly detect—or test for—the financial issues leading to Silicon Valley Bank’s collapse during a Senate committee hearing on Tuesday.
President Joe Biden on Sunday issued a statement on the failures of Silicon Valley Bank (SVB) and Signature Bank, insisting that the U.S. financial system is “safe” after the Federal Reserve rolled out an emergency lending program to stabilize the banking system. It comes after the Federal Deposit Insurance Corporation (FDIC) expanded its deposit insurance […]
A judge ruled Monday he will allow jurors to hear evidence that disgraced South Carolina attorney Alex Murdaugh was stealing money from his law firm and clients and committing other financial crimes long before his wife and son were killed in 2021. Prosecutors have said those witnesses are key to their case in Murdaugh’s double […]
American International Group Inc. said on Wednesday its subsidiary, AIG Financial Products (FP), had filed for Chapter 11 bankruptcy protection to complete the wind down of a business unit that was a central figure in the 2008 financial crisis. AIG Financial Products largely ceased operations in 2008, and its bankruptcy will not have a material […]
The funding stream for the Consumer Financial Protection Bureau (CFPB), created by Congress and approved by then-President Barack Obama in 2008, is unconstitutional, a U.S. appeals court ruled on Oct. 19. The bureau, which has a mission to implement and enforce federal consumer finance law, was given the power to oversee 18 federal laws, ranging from […]
STOCKHOLM—Former U.S. Federal Reserve Chair Ben Bernanke won the Nobel Prize in economic sciences along with two other U.S.-based economists for their research into bank failures. The Nobel panel at the Royal Swedish Academy of Sciences recognized Bernanke, Douglas W. Diamond, and Philip Dybvig on Monday for research that shows “why avoiding bank collapses is […]
The Democrat-led House Oversight Committee announced Thursday that it reached an agreement with former President Donald Trump’s attorneys and required his accounting company to hand over his financial records to the panel. “After numerous court victories, I am pleased that my Committee has now reached an agreement to obtain key financial documents that former President Trump […]
Investors have slashed their stock allocation to the lowest level since the collapse of Lehman Brothers during the financial crisis of 2008–09, a new poll found. According to Bank of America’s latest monthly survey of global fund managers, investors’ expectations of international growth and corporate profits cratered to levels not seen since the economic collapse […]
Recent financial trades by Federal Reserve Chair Jerome Powell and former Vice Chair Richard Clarida were determined by the central bank’s independent watchdog to have not violated any laws or ethics rules. The Office of the Inspector General said it is closing its investigation into the pair’s investment activities from 2019 to 2021. “We did not […]
